The great merit of gold is precisely that it is scarce; that its quant…

Henry Hazlitt
36 citations
The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.
Politics
23

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When the government makes loans or subsidies to business, what it does is to tax successful private business in order to support unsuccessful private business. ✨ Henry Hazlitt (2010). Economics in On … ▶
The question is not whether we wish to see everybody as well off as possible. Among men of good will such an aim can be taken for granted. The real question concerns the proper means of achieving it. … ▶
The superior freedom of the capitalist system, its superior justice, and its superior productivity are not three superiorities, but one. The justice follows from the freedom and the productivity foll … ▶
From a strictly economic point of view, buying gold in a major inflation and holding it probably presents the least risk of capital loss of any investment or speculation.
The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector. ✨ Henry Hazlitt (1971). Man Vs. the Welfare State, p.121, Ludwig von M … ▶

The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.

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